January 8th, 2015 Mortgage Industry Update

As the year starts, we see lenders continue to offer promotional rates that were common throughout last year. No significant changes have occurred, or are expected.

Additionally this week:
– Alberta housing market starting to slowdown says BMO; Due to slow down in energy sector. Learn More.

– Average Toronto home price rose to $566,726 in 2014, an 8.4 per cent year-over-year increase. TREB says because shortage of available homes.